Senior Project Manager, Small Homes Stabilization

About the Agency:

The New York City Department of Housing Preservation & Development (HPD) promotes quality and affordability in the city’s housing, and diversity and strength in the city’s neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love.

– We maintain building and resident safety and health
– We create opportunities for New Yorkers through housing affordability
– We engage New Yorkers to build and sustain neighborhood strength and diversity.

HPD is entrusted with fulfilling these objectives through the goals and strategies of “Housing Our Neighbors: A Blueprint for Housing and Homelessness,” Mayor Adams’ comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city’s history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City’s complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth.

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Your Team:

The Office of Development leads the agency’s effort in implementing the Mayor’s Housing Plan. This is achieved in close collaboration with HPD colleagues, other City and state agencies, and the New York City Housing Development Corporation (HDC).

The Division of Homeownership Opportunities and Preservation creates and preserves affordable homes to facilitate generational wealth-building, maintain housing quality, and address the legacy of discrimination, segregation, and concentrated poverty. We do so by providing financial assistance to low- and middle-income homeowners, limited equity cooperatives, and community land trusts. Programs within the Division include:

– HomeFix and Project Help programs provide access to affordable low- or no-interest and potentially forgivable loans and grants for home repairs as well as resiliency or energy efficiency improvements to eligible owners of one- to four-family homes in New York City in partnership with nonprofit organizations
– The Basement Apartment Conversion Pilot Program and the Plus One Accessory Dwelling Unit (ADU) program that finance ADU conversions in small homes.
– Small Homes Rehab, which works with nonprofit developers to rehab existing public sites and privately owned 1-4 family homes to create affordable homeownership opportunities for low-income New Yorkers. Community Restoration Fund, which facilitate the acquisition of distressed mortgage notes from mortgage lenders and repositions these assets to preserve affordable homeownership and rental opportunities.
– The Affordable Neighborhood Cooperative Program (ANCP), which selects qualified developers to rehabilitate distressed city-owned occupied multi-family properties, managed by the Tenant Interim Lease Program, to create affordable cooperatives for low- and moderate-income households.
– and special initiatives including Community Land Trusts, designed to ensure community stewardship of land and long-term housing affordability and the Zombie Homes initiative to develop an acquisition strategy for vacant and abandoned homes and reposition them as affordable homeownership opportunities.

Your Impact:

The Division of Homeownership Opportunities and Preservation seeks a Senior Project Manager for Small Homes Stabilization programs. The Senior Project Manager reports to the Deputy Director and Director of Small Homes Stabilization. The Homeownership unit manages programs that provide home repair loans to private owners of 1- to 4-family homes, where the owner also resides in the home (e.g. HomeFix, Project HELP, and the Basement Apartment Conversion Pilot Program). These programs are funded by city capital funds, City Council discretionary funds, private and other governmental sources. The unit also has programs that support stabilization and acquisition strategies for distressed 1- to 4-family homes such as the Zombie Homes Initiative and the Community Restoration Fund (CRF).

Your Responsibilities:

The Senior Project Manager will be responsible for all loan origination, financial underwriting and closing aspects of projects receiving loans, including crafting loan commitments, reviewing loan packages managing the loan closing process, monitoring construction phases, and assisting with the end-loan closing of completed homes. There will be significant contact with developers, affordable housing lenders, and program partners. The Senior Project Manager will assist the Director and Deputy Director in defining and negotiating the business and legal terms of their assigned deals. With minimal supervision, the Senior Project Manager is expected to prepare and maintain written correspondence, documents, reports, and files regarding all assigned projects. The Senior Project Manager will also be responsible for managing any procurement and fiscal actions with program vendors and internal staff to ensure timely transfer of program and project funds.

The Senior Project Manager will further assist the Deputy Director and Director in developing solutions for prior loans in workout status and resolving issues on outstanding loans. Furthermore, the Senior Project Manager may be asked to evaluate existing programs, develop processes along with evaluating improvements for those loan programs and assist in training staff and managing each program’s pipeline.

Senior Project Manager duties will include, but not be limited to:
– Managing the contracts with designated non-profit partners and reviewing all loan packages submitted by the partner for compliance with program and agency requirements.
– Determining feasibility of proposed projects and proposed loan terms, including performing financial analysis;
– Modeling, preparing, reviewing, interpreting, and making recommendations related to development budgets, pro formas, and affordability analyses;
– Drafting and reviewing legal documents;
– Overseeing construction requisition processes;
– Reviewing and analyzing mortgage notes, regulatory agreements and other related documents requiring understanding and applying of complex regulations;
– Engaging in programmatic policy discussions;
– Preparing project proposal materials and loan documents for senior staff review;
– Acting as a liaison to developers, financial institutions and other project partners, other HPD divisions, and governmental agencies to resolve problems and ensure timely transfer of program funds;
– Preparing and delivering presentations for outside stakeholders, including other city agencies, elected officials, and members of the public;
– Tracking, monitoring and troubleshooting all aspects of projects through processing, commitment, pre-construction, and construction;
– Assisting with special projects and underwriting analysis, working across several units;
– Attending community meetings to represent the agency, explain the programs, and specific project details;
– Training, Mentoring and assisting with onboarding of new Project Managers and Assistant Program Managers;

Preferred Skills:

– Interest in community development, urban planning, affordable housing and real estate finance.
– Knowledge of housing development/lending as well as HPD development programs.
– Capacity to simultaneously work on multiple tasks and set priorities for a challenging workload.
– Strong analytical skills, attention to detail and demonstrated ability to meet deadlines.
– Strong interpersonal/communication skills and ability to work effectively with others to obtain results promptly.
– Excellent writing and editing skills.
– Familiarity with technical databases, strongly preferred.
– Experience with financial analysis and underwriting strongly preferred.
– Strong facility with Excel and Word required.
– Masters in Urban Planning, Public Administration, Real Estate Finance, Business Administration or related fields are strongly preferred.
– At least 3 years of applicable experience working in a fast-paced and dynamic environment preferred.

Minimum Qualifications

1. A baccalaureate degree from an accredited college and two years of experience in community work or community centered activities in an area related to the duties described above; or
2. High school graduation or equivalent and six years of experience in community work or community centered activities in an area related to the duties as described above; or
3. Education and/or experience which is equivalent to “1” or “2” above. However, all candidates must have at least one year of experience as described in “1” above.

Public Service Loan Forgiveness

As a prospective employee of the City of New York, you may be eligible for federal loan forgiveness programs and state repayment assistance programs. For more information, please visit the U.S. Department of Education’s website at https://studentaid.gov/pslf/.
Residency Requirement

New York City residency is generally required within 90 days of appointment. However, City Employees in certain titles who have worked for the City for 2 continuous years may also be eligible to reside in Nassau, Suffolk, Putnam, Westchester, Rockland, or Orange County. To determine if the residency requirement applies to you, please discuss with the agency representative at the time of interview.
Additional Information

The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual’s sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.